An annuity providing a rate of return of 6.4% compounded monthly was purchased for $61,000. The annuity pays $560 at the end of each month. How much principal will be repaid in the fifth year? (Do not round the intermediate calculations. Round your answer to the nearest cent.)
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- An annuity providing a rate of return of 4.8% compounded monthly was purchased for $51,800. The annuity pays $460 at the end of each month. e. What will be the amount of the final payment? (Round your answer to the nearest cent.) Final payment $A deposit is made every half-year into a savings account paying 3% interest compounded semiannually. The balance after 7 years is $16,000. Calculate the rent of the increasing annuity. The rent is $. (Do not round until the final answer. Then round to the nearest cent as needed.)In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $2500 annually at 7% for 10 years.
- An annuity providing a rate of return of 5.5% compounded monthly was purchased for $52,000. The annuity pays $470 at the end of each month. How much principal will be repaid in the fifth year? (Do not round the intermediate calculations. Round your answer to the nearest cent.) Principal repaid in the fifth year $ Help SaveA personal account earmarked as a retirement supplement contains $292,100. Suppose $250,000 is used to establish an annuity that earns 5%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) quartersA personal account earmarked as a retirement supplement contains $242,100. Suppose $200,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $5500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)
- Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $500 is deposited monthly for 10 years at 4% per year in an account containing $5,000 at the startFind the periodic withdrawals PMT for the given annuity account. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $300,000 at 6%, paid out monthly for 11 yearsIn the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Monthly deposits earning 5% to accumulate $8000 after 10 years.
- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Yearly deposits earning 12.3% to accumulate $7500 after 12 years.A personal account earmarked as a retirement supplement contains $242,300. Suppose $200,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $5500 at the end of each quarter. How long will it be until the account balance is $0?Find the periodic withdrawals PMT for the given annuity account. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $400,000 at 4%, paid out monthly for 15 years i PMT S